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whats the best way to get approved for a credit card?

post #1 of 28
4/7/09 at 10:10pm
Thread Starter 
ok so this is seriously driving me crazy.
im 20 years old right now, with a steady job (becoming a full time soon)
but i still dont have a credit card
i've already tried applying online TWICE already, and i always get rejected,
my record is clean, no debts or anything,
PLUS when i request for the amount, i start with $500 Canadian
what should i do?
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post #2 of 28
4/7/09 at 10:16pm
I had the same problem, I ended up getting on sponsored by my university, they were the only ones who would accept me
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post #3 of 28
4/7/09 at 10:22pm
My buddy applied at his bank and got a 2000 limit, and applied online and got a 300. My other buddy always gets denied online, and got approved in the bank. So I'd suggest going to a bank and applying for one.
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post #4 of 28
4/7/09 at 10:23pm
Get a student based card. Chase +1. Not sure if it's for the US only though
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post #5 of 28
4/7/09 at 10:29pm
I agree with Anthony, student credit cards are usually the easiest, but if you are not attending school and If you no history of credit a secured credit card may be the best way to go. It will require that you put a deposit down ($200-$500), which the creditor will hold as collateral. Your spending limit will equal the deposit amount, which you will get back as long as you don't miss a payment.
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post #6 of 28
4/7/09 at 10:36pm
Another easy way is to get a gas card like(Shell, Mobile, BP). Buy gas and you'll build your credit as long as you pay it in full each month. In 3 months you can apply for a real credit card.


And stop applying for cards if you have any doubt you'll get approved for cause it takes a hit on your credit score each time you do it further lowering your chances of getting approved.
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post #7 of 28
4/8/09 at 10:21am
Thread Starter 
thanks for all the inputs you guys =]
i've set up an appointment with my bank today, so hopefully they'll willing to accept my application.

thanks flipcydesae and everyone else for their inputs, they were all very useful tips =]
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post #8 of 28
4/8/09 at 10:56am
You're 20. Why do you want to borrow money?
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post #9 of 28
4/8/09 at 11:02am
^
good point
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post #10 of 28
4/8/09 at 12:31pm
You have to establish credit somehow. Just as long as she doesn't rack up a bunch of debt its ok. When it comes time to borrow money for a house lenders want to see accounts with a long history of on time payments.
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post #11 of 28
4/8/09 at 1:24pm
just show some DDG to your bank
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post #12 of 28
4/8/09 at 1:46pm
Diesel Denim Gallery?


















jkjk

no but really what does that mean? Direct Deposit GREEN
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post #13 of 28
4/8/09 at 1:59pm
Quote:
Originally Posted by sultrysiren View Post
You have to establish credit somehow. Just as long as she doesn't rack up a bunch of debt its ok. When it comes time to borrow money for a house lenders want to see accounts with a long history of on time payments.
If he has any student loans then this is a non-issue.

You're absolutely right about borrowing for a house, but the chances that this will be an issue for him in the medium-term are (I'm guessing) pretty low. Plus, the chances of him making charges and paying them back in a timely fashion as a 20 year old college student are pretty low also...

The last thing ANY full-time student wants is to be carrying around thousands and thousands of dollars of credit card debt...
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post #14 of 28
4/8/09 at 7:16pm
I got $2500 limit when I got mine at 18 because I had a joint one with my mom at 16. I have a PC financial cc and I love it because I can use the points towards free groceries and other goodies.
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post #15 of 28
4/8/09 at 10:36pm
Get a university sponsored credit card (if it's the same as in the US). Just pay off the balance each month and you'll be fine.

Yes, you do have to start somewhere. I had mine when I was 19, had some balance over the years but typically no more than $3k and interest rates of 3.9% or less. I was never late in payments.

Now, I have a FICO score of 760+, zero balance, and 11+ credit cards. Of those, I use about 3 on a regular basis and rack up quite a lot of pts for plenty travel rewards and other perks.

credit cards are not all evil, it all depends on how you use them.
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post #16 of 28
4/9/09 at 1:49am
get a boyfriend
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post #17 of 28
4/9/09 at 4:22am
Quote:
Originally Posted by lilcram View Post
Diesel Denim Gallery?
yep of course
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post #18 of 28
4/9/09 at 3:55pm
Thread Starter 
so i went to the bank yesterday, and the associate was a little confused as to why my credit card application got declined. therefore she helped me apply for another one, and will have her manager look over the application, so there shouldnt be any problem =].
the reason im getting a credit card is that i know im responsible enough to own a credit card, i've a steady job that pays me well, plus i plan on traveling to new york in the near fall.
BUT having that said, i really hope i dont abuse it =S
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post #19 of 28
4/9/09 at 6:12pm
Quote:
Originally Posted by x_xiii View Post
so i went to the bank yesterday, and the associate was a little confused as to why my credit card application got declined. therefore she helped me apply for another one, and will have her manager look over the application, so there shouldnt be any problem =].
the reason im getting a credit card is that i know im responsible enough to own a credit card, i've a steady job that pays me well, plus i plan on traveling to new york in the near fall.
BUT having that said, i really hope i dont abuse it =S
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post #20 of 28
4/9/09 at 7:16pm
Thread Starter 
^
i know i know... =[
have some faith in me please =P
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post #21 of 28
4/10/09 at 6:07pm
I got my first credit card when I was 19. It's easy to not have massive credit card debt as long as you realize it's not free money. The rule I followed was: don't spend more than you know you will be able to pay back on time. I only really reserved my credit card for emergencies, online purchases, or really expensive items where I didn't want to be carrying that much cash around.
One of my shopaholic roommates owed about $1,000 initially and now she owes over $4,000 b/c of high interest rates. Expensive lesson to learn! Sadly, I've heard stories that are much worse than that.
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post #22 of 28
4/10/09 at 7:56pm
It's hard to go through life without a credit card. It is a very convenient tool.
Anyways, if you don't have a credit card I'd suggest you get one even if you don't need it. What you will very likely need later in life is credit history. Start building it now!!!
If you're afraid you'll overspend it/abuse it, I suggest requesting a low limit.
I believe Capital One has a credit card that they will approve anybody for.
If you make income and don't have any blemishes on your credit history you're almost guaranteed to get approved for a credit card.
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post #23 of 28
4/10/09 at 9:10pm
Thread Starter 
thanks you guys
i think when i do get it, im just gonna keep track of it everytime i use it
im somewhat excited for it now =D
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post #24 of 28
4/10/09 at 9:34pm
I remember my first credit card was one of those student cards and the interest rate was horrible on it. something like 17% interest rate. What you seriously need to do is with your first card to build your credit is just buy like a pack of gum or limit yourself to $10.

Pay it off in full on time each month. And seriously you'll start getting offers for better cards in the mail. I don't think I have anything less than platinum with anything higher than 7% interest rate of my cards anymore.
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post #25 of 28
4/10/09 at 11:08pm
Mines 19.5% or something
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